Bitcoin, altcoins sell-off as Fed chair switch-up, AI bubble fears spook markets

The crypto market corrected as a shake-up in the Trump administration’s Fed chair pick spooked traders, and growing US macroeconomic challenges led investors to risk-off.

Key takeaways:

Leverage surges in the crypto market, with $527M in liquidations in 24 hours, signaling growing caution among traders.

Tighter liquidity and rising AI debt risks push traders to exit riskier assets, contributing to a market correction.

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